Global Pharmaceutical logistics market report offers the latest industry trends, technological alteration and forecast data. A deep-dive view of Pharmaceutical logistics industry based on its size, growth, development plans, and opportunities is offered by this report. The forecast information, SWOT analysis, Pharmaceutical logistics barriers, and feasibility study are the vital aspects evaluated in this report.
The global pharmaceutical logistics market size is expected to account for USD 118.9 billion by the end of 2027 and is anticipated to grow at the CAGR of 7.3% during the forecast period 2020 to 2027, according to a new report by Million Insights. Increasing demand for various drugs owing to rising chronic health disorders is expected to boost the growth of the market. Additionally, COVID-19 pandemic is projected to proliferate the market growth. Governments across the globe are focusing on treating patients with preventive measures. Rising export & import of medicines across China and U.S. is also boosting the market growth.
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In the healthcare system, pharmaceutical logistics plays a vital role for the transportation of pharmaceutical drugs & medicines. Moreover, staff services and equipment present in the pharma sector are considered to be highly expensive. Technological solutions including block chain technology and cloud-based solutions are helpful in real-time operation monitoring which is projected to positively impact market growth. These solutions provide predictive analytics for optimization and risk mitigation. The adoption of these solutions helps to enhance the efficiency and productivity of the business.
In 2019, North America led the pharmaceutical logisticsmarket with the highest share in the overall market. Asia Pacific market is anticipated to register the fastest CAGR during the forecasted period, due to the growing healthcare sector across developing countries in the region.
Key players in the market are DB Schenker, LifeConEx, Air Canada, Agility, FedEx, CEVA Logistics, Deutsche post AG, and Marken.
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